UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                                 FORM 10-QSB

          [X]           QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                   OF THE SECURITIES EXCHANGE ACT OF 1934

          [   ]         TRANSITION REPORT PURSUANT TO SECTION 13 OR
                15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

             For the quarterly period ended:  September 30, 2002

                      Commission file number 000-30009

                          PETROL OIL AND GAS, INC.
           (Exact name of registrant as specified in its charter)

Nevada                                                            88-0453323
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                        Identification Number)

6265 S. Stevenson Way
Las Vegas, Nevada                                                      89120
(Address of Principal Executive Offices)                          (Zip Code)

                               (702) 454-3394
            (Registrant's telephone number, including area code)

                         EURO TECHNOLOGY OUTFITTERS
                 (Former name, if changed since last report)

Indicate  by check mark whether the registrant (1) filed all reports required
to  be  filed by Section 13 or 15(d) of the Securities Exchange Act  of  1934
during the last 12 months (or for such shorter period that the registrant was
required  to  file  such reports), and (2) has been subject  to  such  filing
requirements for the past 90 days.

                          Yes      X       No ____

     The  number of shares of Common Stock, $0.001 par value, outstanding  on
November   21,  2002,  was  11,568,300  shares,  held  by  approximately   33
shareholders.

     Transitional Small Business Disclosure Format (check one):

                          Yes             No     X
                   ITEM 1.  CONDENSED FINANCIAL STATEMENTS

<PAGE>
<TABLE>

                          PETROL OIL AND GAS, INC.
                    (Formerly Euro Technology Outfitters)
                        (A Development Stage Company)
                           CONDENSED BALANCE SHEET

                                                     September  December 31,
                                                     30, 2002       2001
                                                    (unaudited)  (audited)
<S>                                                <C>          <C>
ASSETS
CURRENT ASSETS:
  Cash                                             $    48,105  $         0
                                                   -----------  -----------
Oil and gas properties using full cost accounting:
  Properties not subject to amortization               184,586            0
                                                   -----------  -----------
     TOTAL ASSETS                                  $   232,691  $         0
                                                   ===========  ===========
</TABLE>
<TABLE>
LIABILITIES AND STOCKHOLDERS' EQUITY
<S>                                                <C>          <C>
CURRENT LIABILITIES:
  Accounts payable                                 $   203,352  $         0
  Due to officer                                         1,000            0
                                                   -----------  -----------
     TOTAL CURRENT LIABILITIES                         204,352            0
                                                   -----------  -----------
Contingencies and commitments

STOCKHOLDERS' EQUITY:
  Preferred stock, $.001 par, authorized 10,000,000
shares; no shares issued                                     0            0

Common stock, $.001 par, authorized 100,000,000
shares,      11,568,300, and 6,454,360 issued and
outstanding at September 30, 2002 and December 31,
2001.                                                   11,568        6,454

  Stock paid for not issued                             47,287            0
  Additional paid in capital                            45,488            0
  Deficit accumulated during the development stage    (76,004)      (6,454)
                                                   -----------  -----------
     TOTAL STOCKHOLDERS' EQUITY                         28,339            0
                                                   -----------  -----------
     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY    $   232,691  $         0
                                                   ===========  ===========
</TABLE>
                 See notes to condensed financial statements

<PAGE>
<TABLE>
                          PETROL OIL AND GAS, INC.
                      (Formerly Technology Outfitters)
                        (A Development Stage Company)
                                 (Unaudited)
                      CONDENSED STATEMENT OF OPERATIONS

                                                                March 3, 2000
                    Three       Three    Nine MonthsNine Months  (inception)
                    Months      Months      Ended      Ended    to September
                    Ended       Ended     September  September    30, 2002
                  September   September   30, 2002    30, 2001
                   30, 2002    30, 2001
<S>              <C>          <C>        <C>         <C>         <C>
Revenue:         $      --    $       -- $       --   $      --  $        --
                 ---------   -----------  ----------- ---------    -----------
Professional and
consulting fees     60,588            13     60,610         335       60,610
Travel               7,337             0      7,337           0        7,337
Miscellaneous
expense              1,603             0      1,603           0        8,057
                 ---------   -----------  ----------- ---------    -----------
Net loss         $(69,528)    $     (13) $ (69,550)   $   (335)  $  (76,004)
                 =========    ========== ==========   =========  ===========


Basic and
diluted earnings
per share        $  (0.01)    $   (0.00) $   (0.01)   $  (0.00)  $    (0.01)
                 =========    ========== ==========   =========  ===========
Weighted shares
outstanding      8,996,451     6,440,300  7,363,565   6,440,300    6,248,263
                 =========    ========== ==========   =========  ===========
</TABLE>
                See notes to condensed financial statements.

<PAGE>
<TABLE>
                          PETROL OIL AND GAS, INC.
                        (A Development Stage Company)
                    (Formerly Euro Technology Outfitters)
                                 (Unaudited)
                      CONDENSED STATEMENT OF CASH FLOWS

                                                                  March 3,
                                             Nine    Nine Months    2000
                                            Months      Ended    (inception)
                                             Ended    September to September
                                           September  30, 2001    30, 2002
                                           30, 2002
<S>                                      <C>        <C>         <C>
Operating activities:
  Net loss                                $(69,550)  $    (335)  $  (76,004)
  Change in assets and liabilities-
  Accounts payable                          113,972           0      113,972
  Due to officer                              1,000     (1,105)        1,000
                                          ----------  ----------  -----------
   Cash provided by (used in) operating
activities                                   45,422     (1,440)       38,968
                                          ----------  ----------  -----------
Investing activities:
  Additions to oil & gas property not
subject to amortization                    (44,625)           0     (44,625)
                                          ----------  ----------  -----------
   Cash used in investing activities       (44,625)           0     (44,625)
                                          ----------  ----------  -----------
Financing activities:
  Stock issued for debt                          21       1,440        1,475
  Stock paid for not issued                  47,287           0       52,287
                                          ----------  ----------  -----------
   Cash provided from financing
activities                                   47,308       1,440       53,762
                                          ----------  ----------  -----------
Increase in cash                             48,105           0       48,105
Beginning cash                                    0           0            0
                                          ----------  ----------  -----------
Ending cash                               $   48,105  $        0  $    48,105
                                          ==========  ==========  ===========
Supplemental cash flow information:
  Interest paid                           $        0  $        0  $         0
                                          ==========  ==========  ===========
  Income taxes paid                       $        0  $        0  $         0
                                          ==========  ==========  ===========
Non cash financing activities:
  Stock issued for assets acquired        $   10,918  $        0  $    10,918
                                          ==========  ==========  ===========
  Addition to oil & gas property not
subject to amortization and accounts
payable assumed in asset purchase
                                         $   89,381  $        0  $    89,381
                                          ==========  ==========  ===========
  Stock contributed to paid in capital    $    5,826  $        0  $     5,826
                                          ==========  ==========  ===========
</TABLE>
                See notes to condensed financial statements.
<PAGE>

                          PETROL OIL AND GAS, INC.
                    (Formerly Euro Technology Outfitters)
                        (A Development Stage Company)
                   NOTES TO CONDENSED FINANCIAL STATEMENTS

NOTE 1 -  SIGNIFICANT ACCOUNTING POLICIES

          Basis of Presentation

          The   accompanying  consolidated  financial  statements  have  been
          prepared   in  accordance  with  accounting  principles   generally
          accepted  in  the  United States of America for  interim  financial
          information  and  with  the instructions to Form  10-QSB  and  Item
          310(b)  of Regulation S-B. Accordingly, they do not include all  of
          the  information  and  footnotes required by accounting  principles
          generally  accepted  in the United States of America  for  complete
          financial statements. In the opinion of management, all adjustments
          (consisting  only  of  normal  recurring  adjustments)   considered
          necessary for a fair presentation have been included.

          The  results of operations for the nine months ending September 30,
          2002  are  not necessarily indicative of the results to be expected
          for the year ending December 31, 2002.

          For  further  information,  refer to the financial  statements  and
          footnotes  included in Form 10-KSB for the year ended December  31,
          2001.

          The  Company is currently a development stage enterprise  reporting
          under the provisions of Statement of Financial Accounting Standards
          ("SFAS") No. 7.

          The  Company has limited operations and is still in the development
          stage.   The  Company  will need to raise a substantial  amount  of
          capital  in  order to continue its business plan.   This  situation
          raises  substantial doubt about its ability to continue as a  going
          concern.  The accompanying consolidated financial statements do not
          include   any  adjustments  relative  to  the  recoverability   and
          classification  of  asset  carrying  amounts  or  the  amount   and
          classification of liabilities that might result from the outcome of
          this   uncertainty.   Management  is  currently  initiating   their
          business  plan  and  in the process of raising additional  capital.
          (See Note 2)

          Organization and business

          On March 3, 2000 Euro Technology Outfitters (Euro) was incorporated
          in  Nevada.   Euro  was a reporting public shell with  no  business
          activity.   On August 19, 2002 Euro acquired, in an asset  purchase
          agreement,  land  leases and accumulated expenditures  and  assumed
          liabilities from Petrol Energy, Inc.  Petrol Energy, Inc.  received
          10,918,300 shares of Euro and transferred into Euro property leases
          that  the  Company will use for the development and exploration  of
          oil,  gas, and methane.  The par value of the Euro shares  ($10,918
          and  additional  paid-in  capital of $39,662)  was  recorded  which
          reflected the amount of lease

<PAGE>

                          PETROL OIL AND GAS, INC.
                    (Formerly Euro Technology Outfitters)
                        (A Development Stage Company)
                   NOTES TO CONDENSED FINANCIAL STATEMENTS

NOTE 1 -  SIGNIFICANT ACCOUNTING POLICIES (Continued)

          payments  made  by  Petrol  in the last year.   Also  recorded  was
          accounts  payable  totaling $89,381 and the associated  capitalized
          costs relating to the payables.

          On   August   20,  2002,  the  Company  amended  its  Articles   of
          Incorporation changing its name from Euro Technology Outfitters  to
          Petrol Oil and Gas, Inc. and increased its authorized capital stock
          to  100,000,000  shares  of  Common Stock  $0.001  par  value  and,
          10,000,000  shares of Preferred Stock $0.001 par  value.   Petrol's
          fiscal period ends on December 31.

          The  Company is in the development stage and its activities to date
          have been limited to organizational activities including developing
          and   implementing   its   business  plan,  establishing   business
          strategies and formulating a strategy to raise equity capital.

          Fair value of financial instruments

          The  carrying  amounts  of cash and notes  payable  to  an  Officer
          approximates fair value because of the short-term natures of  these
          items.

          Loss per share

          Basic  and  diluted loss per share was computed in accordance  with
          Statement  of Financial Accounting Standards No. 128.   Basic  loss
          per  share is computed by dividing the net loss available to common
          shareholders  (numerator) by the weighted average of common  shares
          outstanding  (denominator)  during  the  period  and  excludes  the
          potentially  diluted common shares.  Diluted  net  loss  per  share
          gives  effect  to  all potential diluted common shares  outstanding
          during  a period.  There were no potentially diluted common  shares
          outstanding on September 30, 2002.

          Use of Estimates

          The   preparation  of  financial  statements  in  conformity   with
          generally  accepted  accounting principles requires  management  to
          make estimates and assumptions that affect the reported amounts  of
          assets  and  liabilities and disclosure of  contingent  assets  and
          liabilities  at  the  date  of  the financial  statements  and  the
          reported  amount  of  revenues and expenses  during  the  reporting
          period.  Actual results could differ from those estimates.


<PAGE>
                          PETROL OIL AND GAS, INC.
                    (Formerly Euro Technology Outfitters)
                        (A Development Stage Company)
                   NOTES TO CONDENSED FINANCIAL STATEMENTS

NOTE 1 -  SIGNIFICANT ACCOUNTING POLICIES (Continued)

          Cash and cash equivalents

          Cash and cash equivalents include cash in banks and certificates of
          deposit which mature within three months of the date of purchase.

          Oil and gas properties

          The  Company follows the full cost method of accounting for oil and
          gas   properties.    Accordingly,   all   costs   associated   with
          acquisition, exploration, and development of oil and gas  reserves,
          including  directly  related  overhead  costs  and  interest,   are
          capitalized.

          All  capitalized  costs included in the estimated future  costs  to
          develop   proved  reserves,  will  be  amortized  on  the  unit-of-
          production  method using estimates of proved reserves.  Investments
          in  unproved  properties  and major development  projects  are  not
          amortized until proved reserves associated with the projects can be
          determined  or  until  impairment occurs.   If  the  result  of  an
          assessment indicate that the properties are impaired, the amount of
          the impairment is added to the capitalized costs to be amortized.

          In addition, the capitalized costs are subject to a "ceiling test,"
          which  basically  limits  such  costs  to  the  aggregate  of   the
          "estimated  present value," discounted at a 10%  interest  rate  of
          future net revenues from proved reserves, based on current economic
          and  operating  conditions, plus the lower of cost or  fair  market
          value of unproved properties.

          Sales  of  proved  and  unproved properties are  accounted  for  as
          adjustments  of capitalized costs with no gain or loss  recognized,
          unless  such adjustments would significantly alter the relationship
          between  capitalized costs and proved reserves of oil and  gas,  in
          which case the gain or loss is recognized as income.

          Abandonment's  of  properties are accounted for as  adjustments  of
          capitalized costs with no loss recognized.

          Long-lived assets

          Long-lived assets to be held and used or disposed of other than  by
          sale  are  reviewed for impairment whenever events  or  changes  in
          circumstances  indicate  that  the  carrying  amount  may  not   be
          recoverable.

<PAGE>
                          PETROL OIL AND GAS, INC.
                    (Formerly Euro Technology Outfitters)
                        (A Development Stage Company)
                   NOTES TO CONDENSED FINANCIAL STATEMENTS

NOTE 2 -  GOING CONCERN

          The Company's financial statements are prepared using the generally
          accepted accounting principles applicable to a going concern, which
          contemplates   the  realization  of  assets  and   liquidation   of
          liabilities in the normal course of business.  The ability  of  the
          Company  to  continue  as a going concern  is  dependent  upon  the
          ability in its endeavors to seek additional sources of capital, and
          in   attaining  future  profitable  operations.   The  accompanying
          financial statements do not include any adjustments that  might  be
          necessary  should  the company be unable to  continue  as  a  going
          concern.

NOTE 3 -  STOCKHOLDERS' EQUITY

          Common stock
          The aggregate number of shares of common stock that the Company has
          authority to issue is 100,000,000 shares at a par value of  $0.001.
          As  of  September  30,  2002, 11,568,300  shares  were  issued  and
          outstanding.

          Preferred stock
          The  aggregate number of shares of preferred stock that the Company
          has  authority  to issue is 10,000,000 shares at  a  par  value  of
          $0.001.   As  of  September 30, 2002, no shares of preferred  stock
          were issued.

          Stock Issuances
          On  August  19,  2002,  the  Company  executed  an  Asset  Purchase
          Agreement,  whereby  the Company issued 10,918,300  shares  of  its
          restricted common stock.

          On  August  19, 2002, the Company entered into a letter  of  intent
          with  NIO  Funds  Investment Management Limited (NIO)  whereby  NIO
          would  exclusively  raise funds throughout  Europe  and  invest  in
          Petrol.  A fee of 2% will be charged for all funds raised and  will
          be netted against the amount sent to Petrol.  The funds raised will
          be used to purchase up to 750,000 restricted shares of common stock
          at a price of  $.50 per share and an additional 250,000 shares at a
          price of  $.75 per share.  In addition, the Company granted NIO the
          privilege  of  purchasing additional shares  of  restricted  common
          stock  of Petrol in the amount of $500,000 per month for the months
          of March, April, May, June, August and November of 2003 and January
          of  2004.   The price per share would be at a discount of 12.5%  of
          the  market  price of Petrol shares that were being traded  on  any
          exchange  or  over-the-counter but not less than $.875  per  share.
          There was no value assigned to the ability to invest in the Company
          based on the Black-Scholes pricing model.

          On  August  21, 2002, a shareholder contributed to paid in  capital
          5,826,240 shares of Company stock.

<PAGE>
                          PETROL OIL AND GAS, INC.
                    (Formerly Euro Technology Outfitters)
                        (A Development Stage Company)
                   NOTES TO CONDENSED FINANCIAL STATEMENTS

NOTE 3 -  STOCKHOLDERS' EQUITY (Continued)

          At  September 30, 2002, NIO had transferred to Petrol $47,287.   No
          stock   was  issued  at  that  date.   Recorded  in  the  financial
          statements  is stock purchased but not issued for the $47,287  that
          was received.

NOTE 4 -  COMMITMENTS

          The  land leases have payments due totaling $88,655 due by December
          31,  2002,  $347,877 due by December 31, 2003, and  $1,570  due  by
          December 31, 2004.

NOTE 5 -  RELATED PARTY TRANSACTIONS

          The Company paid a fee to its President totaling $10,000 during the
          period ended September 30, 2002 for services rendered.

NOTE 6 -  SUBSEQUENT EVENTS

          On  November 5, 2002, the Company sold 624,783 shares of restricted
          common  stock  at  a  price of $0.50 per  share  to  NIO  for  cash
          consideration  totaling  $312,391.   The  Company  cancelled  NIO's
          remaining purchase rights for shares at $.50 and $.75.

          On  November 15, 2002, the Company entered into a Service and Water
          Disposal Agreement with two companies, whereby the Company will  be
          provided  with  pumping services as well as transportation  of  its
          produced water to a disposal well.  The Company will pay $10.00 per
          day  for each well that is provided with pumping services and  will
          pay  at  the rate of $60.00 per hour for water hauling and  $250.00
          per month for the use of the disposal well.

NOTE 7 -  SUPPLEMENTAL OIL AND GAS DISCLOSURE

          Oil and gas operations
          The Company currently has only begun preliminary exploration and as
          a  result has no revenue or production.  Capitalized costs relating
          to  oil  and gas producing activities at September 30, 2002 totaled
          $184,586  and  was  all  classified as properties  not  subject  to
          amortization.

<PAGE>

Item 2. Plan of Operations

    This  report  contains forward-looking statements.   Actual  results  and
events  could  differ  materially  from  those  projected,  anticipated,   or
implicit,  in the forward-looking statements as a result of the risk  factors
set forth below and elsewhere in this report.

   With the exception of historical matters, the matters discussed herein are
forward-looking  statements that involve risks and  uncertainties.   Forward-
looking  statements  include, but are not limited to,  statements  concerning
anticipated  trends in revenues and net income, the date of  introduction  or
completion  of our products, projections concerning operations and  available
cash  flow.   Our  actual results could differ materially  from  the  results
discussed  in  such forward-looking statements primarily  as  the  result  of
insufficient cash to pursue production and marketing efforts.  The  following
discussion  of  our financial condition and results of operations  should  be
read  in  conjunction  with our financial statements and  the  related  notes
thereto appearing elsewhere herein.

Overview

     Petrol Oil and Gas, Inc., formerly named Euro Technology Outfitters, was
incorporated in Nevada on March 3, 2000.  We are structured to become an  oil
and  gas  exploration and development company. Our primary business objective
is  to  produce  economic quantities of natural gas from buried  coal  seams,
denoted as coal-bed methane (CBM).

      On August 19, 2002, we executed an Asset Purchase Agreement with Petrol
Energy, Inc., whereby we issued 10,918,300 shares of restricted common  stock
in  exchange for certain assets and liabilities of Petrol Energy.  The assets
that were acquired included approximately 289 oil and gas mineral leases.

      On  August 20, 2002, we amended our Articles of Incorporation to change
our name from Euro Technology Outfitters to Petrol Oil and Gas, Inc.

     Petrol  has  yet  to generate revenues from any source and  there  is  a
substantial  going concern issue as to whether Petrol will ever  be  able  to
commercialize its oil and natural gas production and generate sufficient,  if
any,  revenues to satisfy its working capital requirements.  Since inception,
Petrol has been dependent on the sale of its equity securities and loans from
affiliates to satisfy its working capital requirements.  Petrol continues  to
have  a  working capital deficiency that raises substantial concern regarding
its ability to continue as a going concern.

Business of the Company

     The Company's current business plan is to drill and subsequently produce
commercial quantities of natural gas and have a ready market in which to sell
the produced gas.

     We  intend  to  fund portions of our field operations  through  revenues
obtained  from  sales of our CBM gas production, if any.  To  accelerate  the
development  program we plan to take on working interest (WI)  partners  that

<PAGE>

will  contribute to the costs of drilling and completion and  then  share  in
revenues  derived from production. This economic strategy  may  allow  us  to
utilize  our  own  financial assets toward the growth of our  leased  acreage
holdings, pursue the acquisition of strategic oil and gas producing companies
and generally expand our existing operations.

     CBM PRODUCTION

     In  a  conventional oil or gas reservoir, production is from oil or  gas
     located  above  a  water contact.  CBM production is  different.   Water
     completely  permeates coal beds, and its pressure causes the methane  to
     be  adsorbed onto the grain surfaces of the coal.  To produce  CBM,  the
     water must be drawn off first, lowering the pressure so that the methane
     will desorb from the coal and then flow to the well bore.

     CBM  production  also  differs  from conventional  gas  production  that
     normally  starts at its highest production rate and then  declines  with
     time.  Because coal beds have water residing within the cleat or natural
     fracture  system,  the water needs to be withdrawn in order  to  promote
     production of the gases that are adsorbed on the surfaces of  the  coal.
     Thus,  for  the  case  of  CBM, initial water  production  is  high  and
     diminishes  with  time.  CBM  gas  production,  however,  starts  at   a
     relatively low rate reaching a peak in 3 -12 months and then  begins  to
     decline.

     CBM  production is attractive due to several geological  factors.   Coal
     stores  six  or  seven times as much gas as a conventional  natural  gas
     reservoir of equal rock volume due to the large internal surface area of
     coal.   A  significant amount of coal is accessible at  shallow  depths,
     making well drilling and completion inexpensive.  Finding costs are also
     low  since  methane  occurs in coal deposits, and the  location  of  the
     Nation's coal resources is well known.

     Petrol will require substantial additional funds to fulfill its business
plan  and  successfully commercialize its production of oil and natural  gas.
Petrol  intends  to raise these needed funds from private placements  of  its
securities, debt financing or internally generated funds from the sale of oil
and natural gas.

Plan of Operation

     During  the  next 12 months the Company plans to focus  its  efforts  on
increasing  their  production  and  reserves  of  natural  gas  through   the
development  of their existing properties, raising additional equity  capital
and furthering its new business plan.

     As  of  September 30, 2002, the Company had only 1 Officer and Director.
We  are  dependent  upon  Paul Branagan, sole officer  and  director  of  the
Company.

Liquidity and Capital Resources

     A  critical  component  of  our operating plan impacting  our  continued
existence  is  the  ability to obtain additional capital  through  additional
equity  and/or debt financing.  We do not anticipate enough positive internal
operating  cash flow until such time as we can generate substantial revenues,
which  may take the next few years to fully realize.  In the event we  cannot
obtain  the  necessary capital to pursue our strategic plan, we may  have  to
cease  or significantly curtail our operations.  This would materially impact
our ability to continue operations.

<PAGE>

     Our near term cash requirements are anticipated to be offset through the
receipt  of funds from private placement offerings and loans obtained through
private  sources.   Since inception, we have financed cash flow  requirements
through  debt  financing and issuance of common stock for cash and  services.
As  we  expand  operational  activities, we may continue  to  experience  net
negative  cash  flows  from  operations,  pending  receipt  of  servicing  or
licensing fees, and will be required to obtain additional financing  to  fund
operations  through common stock offerings and bank borrowings to the  extent
necessary to provide working capital.

     Over  the  next  twelve  months we believe  that  existing  capital  and
anticipated  funds  from  operations  will  not  be  sufficient  to   sustain
operations and planned expansion.  Consequently, we will be required to  seek
additional  capital  in  the  future to fund  growth  and  expansion  through
additional  equity or debt financing or credit facilities.  No assurance  can
be  made that such financing would be available, and if available it may take
either the form of debt or equity.  In either case, the financing could  have
a negative impact on our financial condition and our Stockholders.

     We  anticipate  incurring operating losses over the next twelve  months.
Our  lack of operating history makes predictions of future operating  results
difficult  to  ascertain.  Our prospects must be considered in light  of  the
risks, expenses and difficulties frequently encountered by companies in their
early  stage  of  development,  particularly companies  in  new  and  rapidly
evolving  markets such as technology related companies.  Such risks  include,
but  are not limited to, an evolving and unpredictable business model and the
management  of  growth.  To address these risks we must, among other  things,
implement  and  successfully  execute our business  and  marketing  strategy,
continue  to  develop  and  upgrade  technology  and  products,  respond   to
competitive   developments,  and  attract,  retain  and  motivate   qualified
personnel.   There  can  be  no  assurance that  we  will  be  successful  in
addressing  such risks, and the failure to do so can have a material  adverse
effect  on  our  business  prospects,  financial  condition  and  results  of
operations.

     As  of  September  30,  2002, the Company had assets  of  $232,691,  and
$204,352 liabilities. Resulting in a stockholders equity of $28,339.

Material Risks

We  are  a  development stage company, recently reorganized and have  minimal
operating  history, which makes an evaluation of us extremely  difficult.  At
this  stage  of  our business operations, even with our good  faith  efforts,
potential investors have a high probability of losing their investment.

      We  have yet to generate revenues from operations and have been focused
on  organizational,  start-up, market analysis and  fund  raising  activities
since  we  incorporated. Although we intend to increase  our  production  and
reserves  of natural gas, there is nothing at this time on which to  base  an
assumption that these new business operations will prove to be successful  or
that we will ever be able to operate profitably. Our future operating results
will  depend on many factors, including our ability to raise adequate working
capital,  demand  and  acceptance of our business  plan,  the  level  of  our
competition  and  our  ability  to attract and maintain  key  management  and
employees.

<PAGE>

     While  Management  believes its estimates of projected  occurrences  and
events  are  within  the  timetable of its business plan,  there  can  be  no
guarantees or assurances that the results anticipated will occur.

Our auditor's report reflects the fact that without realization of additional
capital,  it would be unlikely for us to continue as a going concern.  If  we
are  unable to continue as a going concern, it is likely that we will not  be
able to continue in business.

     As  a result of our deficiency in working capital and other factors, our
auditors  have  included  a paragraph in their report  regarding  substantial
doubt  about  our ability to continue as a going concern. Our plans  in  this
regard   are  to  seek  additional  funding  through  future  equity  private
placements or debt facilities.

Item 3. Internal Controls

     Our   President   and  Chief  Accounting  Officer  has   evaluated   the
effectiveness  of  our internal controls and has found that  based  on  these
evaluations  and  the  current status of the Company's  operations  that  our
internal  controls  are adequate at this time. Further, there  have  been  no
significant changes in our internal controls or in other factors  that  could
significantly  affect  internal  controls  subsequent  to  the  date  of  his
evaluations.

PART II--OTHER INFORMATION

Item 1.   Legal Proceedings.

     None

Item 2.   Changes in Securities.

     On  August 19, 2002, we executed an Asset Purchase Agreement with Petrol
Energy,  Inc.,  whereby we issued 10,918,300 shares of our restricted  common
stock in exchange for certain assets and liabilities of Petrol Energy.

     On  August  21, 2002, a majority stockholder cancelled 5,826,240  shares
concurrent  with  the  asset  purchase  with  Petrol  Energy,  Inc.  for   no
consideration.

Subsequent Events

     On November 5, 2002, the Company sold 624,783 restricted common stock at
a  price  of $0.50 per share to the NIO Fund Investments Management for  cash
consideration totaling $312,391.

Item 3.   Defaults by the Company upon its Senior Securities.

     None

<PAGE>

Item 4.   Submission of Matter to a Vote of Security Holders.

     On August 1, 2002, we received a unanimous consent from our then sole
stockholder for the approval of the asset purchase agreement with Petrol
Energy.

Item 5.   Other Information.

Change of Accountants

     On August 20, 2002, G. Brad Beckstead CPA was dismissed as the Company's
independent accountant.

      The  Company  has  appointed Weaver & Martin,  LLC,  as  the  Company's
independent accountants for the fiscal year ending December 31,  2002.   This
is  a change in accountants recommended by the Company's Executive Management
and  approved by the Company's Board of Directors.  Weaver & Martin, LLC  was
engaged by the Registrant on August 20, 2002.

     The change in accountants does not result from any dissatisfaction with
the quality of professional services rendered by G. Brad Beckstead CPA, as
the independent accountant of the Company.

Change of Officer and Director

     On  August  21, 2002, Anthony N. DeMint, the Company's sole Officer  and
Director,  appointed  Paul  Branagan  as  a  director  of  the  Company   and
subsequently  resigned, leaving Mr. Branagan as the Company's sole  director.
Following  his appointment, Mr. Branagan elected himself as the sole  officer
of  the  Company.   Further,  concurrent with  his  resignation,  Mr.  DeMint
tendered  5,826,240  shares  of  the  Company's  stock  to  the  Company  for
cancellation.

Service and Water Disposal Agreement

     On  November  15,  2002, the Company entered into a  Service  and  Water
Disposal  Agreement with B&B Cooperative Venture ("B&B") and  Birk  Petroleum
("Birk"), whereby B&B will provide pumping services on the Company's existing
wells to monitor operations, and assess and report on the disposition of  the
production  process.  Birk will transport produced water from  the  Company's
lease  tanks to the disposal well where Birk will inject produced water  into
the  disposal  well.  The Company will pay B&B $10.00 per day for  each  well
that it provides pumping service and will pay Birk at the rate of $60.00  per
hour  for  water  hauling and $250.00 per month for the use of  the  disposal
well.  The term of the agreement will be for 1 year commencing on the date of
execution.

Item 6.   Exhibits and Reports of Form 8-K.

(a)  Exhibits

   (2)  Asset Purchase Agreement between Petrol Energy, Inc. and Euro Technology
   Outfitters, August 19, 2002.

<PAGE>

   (3)(i)(a) Certificate of Amendment of Articles of Incorporation of  Euro
   Technology Outfitters, filed on August 20, 2002.

   (10)  Service and Water Disposal Agreement, November 15, 2002.

   (16)   Letter  of G. Brad Beckstead CPA regarding change  in  certifying
   accountants, September 5, 2002.

(b)  Form 8-K

     Form 8-K filed September 5, 2002
     Form 8-K/A filed September 6, 2002

<PAGE>

                                 SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant  has  duly caused this report to be signed on its  behalf  by  the
undersigned, thereunto duly authorized.


PETROL OIL AND GAS, INC.
(Registrant)



By:/s/ Paul Branagan
      Paul Branagan, President

Date: December 7, 2002

<PAGE>

                          CERTIFICATION PURSUANT TO
                18 USC, SECTION 1350, AS ADOPTED PURSUANT TO
           SECTIONS 302 AND 906 OF THE SARBANES-OXLEY ACT OF 2002

     In connection with the Quarterly Report of Petrol Oil and Gas, Inc. (the
"Company") on Form 10-QSB for the period ending September 30, 2002, as  filed
with  the  Securities  and  Exchange  Commission  on  the  date  hereof  (the
"Report"),  I, Paul Branagan, President and Chief Accounting Officer  of  the
Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant  to
Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, that:

(1)  I have reviewed the report;

(2)   To  the  best of my knowledge, the Report does not contain  any  untrue
statement  of  a material fact or omit to state a material fact necessary  in
order  to make the statements made, in light of the circumstances under which
such statements were made, not misleading;

(3)   To  the  best  of  my  knowledge, the financial statements,  and  other
financial information included in the Report, fairly present in all  material
respects the financial condition and results of operations of the Company  as
of, and for, the periods presented in the Report;

(4)  I:
(a)  am responsible for establishing internal controls;
(b)  have designed such internal controls to ensure that material information
relating to the Company and its consolidated subsidiaries is made known to us
by  others within the Company, particularly during the period ended September
30, 2002;
(c)   have evaluated the effectiveness of the Company's internal controls  as
of a date within 90 days prior to the Report; and
(d)   have presented in the Report my conclusions about the effectiveness  of
my internal controls based on my evaluation of that date;

(5)  I have disclosed to the Company's auditors and the board of directors:
(a)   all  significant  deficiencies in the design or operation  of  internal
controls  which  could  adversely affect the  Company's  ability  to  record,
process,  summarize, and report financial data and have  identified  for  the
Company's auditors any material weaknesses in internal controls; and
(b)   any  fraud, whether or not material, that involves management or  other
employees who have a significant role in the Company's internal controls;

(6)   I  have  indicated in the Report whether or not there were  significant
changes  in  internal  controls or in other factors that could  significantly
affect  internal controls subsequent to the date of my evaluation,  including
any  corrective actions with regard to significant deficiencies and  material
weaknesses; and

(7)   The  Report  fully complies with the requirements of section  13(a)  or
15(d) of the Securities Exchange Act of 1934.

Date:  December 7, 2002


/s/ Paul Branagan
Paul Branagan, President/ Chief Accounting Officer